XML 71 R10.htm IDEA: XBRL DOCUMENT v2.4.0.8
Equity Method Investments
 9 Months Ended
Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments
Equity Method Investments
The following table reflects the change in the Company’s equity method investments during the nine months ended September 30, 2014 (in thousands):
 
INOVA Geophysical
 
OceanGeo
 
Total
Investments at December 31, 2013
$
51,065

 
$
2,800

 
$
53,865

Equity in earnings (losses) of investments
(9,765
)
 
738

 
(9,027
)
Advances to OceanGeo (prior to consolidation)
—

 
3,683

 
3,683

Acquisition of controlling interest (consolidation) of OceanGeo
—

 
(7,221
)
 
(7,221
)
Equity interest in investees' other comprehensive loss
(1,126
)
 
—

 
(1,126
)
Investments at September 30, 2014
$
40,174

 
$
—

 
$
40,174


INOVA Geophysical — The Company accounts for its 49% interest in INOVA Geophysical as an equity method investment and records its share of earnings and losses of INOVA Geophysical on a one fiscal quarter lag basis. For the three and nine months ended September 30, 2014, the Company recorded its share of losses from INOVA Geophysical of $5.6 million and $9.8 million, respectively, compared to its share of losses for the corresponding periods in 2013, of $0.2 million and $3.0 million, respectively. The following table reflects the summarized financial information for INOVA Geophysical for the three months ended June 30, 2014 and 2013 and the nine-month periods from October 1, 2013 and 2012 to June 30, 2014 and 2013, respectively (in thousands):
 
Three Months Ended June 30,
 
Nine-Month Periods from October 1 through June 30,
 
2014
 
2013
 
2014
 
2013
Net revenues
$
11,092

 
$
61,241

 
$
77,774

 
$
142,947

Gross profit (loss)
$
(2,164
)
 
$
12,243

 
$
8,020

 
$
26,378

Income (loss) from operations
$
(9,851
)
 
$
1,658

 
$
(16,094
)
 
$
(7,103
)
Net loss
$
(11,425
)
 
$
(488
)
 
$
(20,010
)
 
$
(6,518
)

Related Party Transactions
For information regarding transactions between the Company and its equity method investees, see Note 14 “Related Party Transactions.”